Unexpectedly, MoonPay is now worth $ 3.4 billion (RM14.4 billion) after receiving investments from a line -up of leading artists such as Justin Bieber, Chainsmokers, Drake, Kate Hudson, Shawn Mendes, Jason Derulo, Bruce Willis, Paris Hilton, Gwyneth Paltrow, Matthew McConaughey, and 50 other celebrities.
The latest investment from 60 celebrities brings an addition of $ 87 million from the previous total, $ 555 million invested by Tiger Global and Coatue.
What is MoonPay?
MoonPay is a Miami company that offers cryptocurrency trading services using conventional methods - credit cards, bank transfers or mobile wallets: Apple Pay and Google Pay.
Not only that, its services are also available on the Bitcoin.com website and the non-fungible token (NFT) marketplace platform, OpenSea.
MoonPay has 10 million users and has processed $ 3 billion in transactions. Not surprisingly, it also has collaborative relationships with Coinbase, FTX, Metamask, and over 260 other service providers from 160 countries.
But interestingly, it can be said that MoonPay is a popular choice among artists or fans of NFT Bored Ape Yacht Club (BAYC) because with every purchase, this service becomes an option.
MoonPay is seen competing with PayPal. While NFT is becoming an incredible trend, MoonPay is taking the opportunity to be a part of this community, and PayPal is still budding in the crypto industry.
Another thing that boosted MoonPay’s popularity was the efforts of its founder, Soto-Wright who provided exposure from A-Z about Web3, NFT, and OpenSea directly to its investors who had celebrity friends.
No wonder if a dumping of artists is confident of investing in this company and its products. The best marketing techniques!
